[123]

The FUD is real. I’ll advise to withdraw funds from Binance which you don’t actively use for trading. Keep the amount you’ll use for trading.

It’s better to be safe now than regret later. Also, invest in cold wallet and keep your funds there.

Here’s an article covering that-

https://cointelegraph.com/news/binance-p...tor-s-site

[SecureOp]

I just withdrew all my doomsday crash money - FTX messed me up enough.

Don't think Binance will actually scatter, but better be safe.

[Motusora]

already withdrew my funds right after ftx filed for bankruptcy .
sam pigman really f*cked everything .

i still have funds left in binance but it's for trading .
or maybe im going to transfer them all to bybit .

[123]

already withdrew my funds right after ftx filed for bankruptcy .
sam pigman really f*cked everything .

i still have funds left in binance but it's for trading .
or maybe im going to transfer them all to bybit .

Instead of Bybit, try OkX.

Elon Musk started following OkX exchange today. Mind it, he doesn’t follow Binance or CZ on Twitter. The only exchange he followed is OKX and that too today.

Surely, he’s onto something.

[SUI-3183372]

I think this news is being blown out of proportion.

[123]

I think this news is being blown out of proportion.

That’s why called it FUD to panic retail.

They simply closed the company branch which did crypto audits.

[SourceCode101]

Cuz my eng is really bad , can explain like " don't let money on your binance"
Something like that please/the words are hard

[Net]

Cuz my eng is really bad , can explain like " don't let money on your binance"
Something like that please/the words are hard

Pretty much this.

[Lilith]

I think this news is being blown out of proportion.

Maybe but if it gets people to stop holding their funds on CEXs, it at least serves one positive.

[Motusora]

Instead of Bybit, try OkX.

Elon Musk started following OkX exchange today. Mind it, he doesn’t follow Binance or CZ on Twitter. The only exchange he followed is OKX and that too today.

Surely, he’s onto something.

i'll check that out , thanks .

[Omniscient]

I saw CZ in an interview being asked about reserves. He was sketchy AF. He didn't directly answer the question. Basically stated the lawyers will sort it out if there is a problem. Binance doesn't have the $2.1B in funds it seems and if people start mass withdrawing, they could lose a lot of liquidity and effectively become insolvent.

What we don't know about Binance is how much they earn from trades and how much they spend. What does their balance sheet really look like? Based on FTX, my best guess is they have only a percentage of deposits. And if withdrawals hit that percentage, they are done.

[Sekhmet]

thanks for letting us know that i am taking my btc from KuCoin at the moment

[SUI-3183372]

I saw CZ in an interview being asked about reserves. He was sketchy AF. He didn't directly answer the question. Basically stated the lawyers will sort it out if there is a problem. Binance doesn't have the $2.1B in funds it seems and if people start mass withdrawing, they could lose a lot of liquidity and effectively become insolvent.

What we don't know about Binance is how much they earn from trades and how much they spend. What does their balance sheet really look like? Based on FTX, my best guess is they have only a percentage of deposits. And if withdrawals hit that percentage, they are done.

That vid and the $2.1b is about the event that FTX’s liquidator would claw back funds Binance got from the FTX buyout. Not customer withdrawals.

Binance has already experienced withdrawals exceeding $5b (debatable number because inflows have been high as well) in the last week, and they weathered it fine.

Based on their publicly disclosed wallets, we know of $55b in Binance's holdings (Down from $69b, after price fluctuations and withdrawals).
https://portfolio.nansen.ai/dashboard/binance

I don't like to place confidence into anyone/anything, but I'm feeling pretty good about Binance.

[123]

No doubt Binance is here to stay but few entities are trying fucking to pull them down.

As a retailer I would never want to get stuck up in a cat fight. It’s better to be aware and prepare for the worst. At the end of a day this is our money.

[G Eazy]

I just took everything off Binance I'm not going to risk it at all.